Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q1 2020

After a strong start to the year, COVID-19 has stamped a pause button on the majority of office deals in the market.  Closing out the first quarter, the Metro Phoenix office market absorbed just 310,280 square feet.  This is 25% of Q1 2019’s figure.  Vacancy crept up only slightly by 100 basis points to 16.2%.  … Continue reading 1-Minute Phoenix Metro Office Market Update: Q1 2020

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q4 2019

It’s time for us to look back at the Metro Phoenix Office Market for 2019. Readers of this narrative know that I am an office broker who works every day with tenants and landlords as they navigate real estate nuances and opportunities. I (along with my incredible team) am based in Phoenix but work around the country, … Continue reading 1-Minute Phoenix Metro Office Market Update: Q4 2019

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q3 2019

After a quiet second quarter, the Greater Phoenix office market experienced a HUGE third quarter in terms of tenant activity.   Over 1 million SF of net absorption (think job growth) was recorded in just a 90-day period, making 2019’s year-to-date net absorption 2.64 million SF – almost matching space absorbed in all of 2018, and … Continue reading 1-Minute Phoenix Metro Office Market Update: Q3 2019

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q2 2019

It’s July in Phoenix and it is hot — both in temperature and in the office market.  The office market remains hot but office net absorption (job growth) cooled off in the 2nd quarter, posting just 245,000 SF in Q2.  Mid-year net absorption stands at 1.5 million SF and will likely hit 3 million SF … Continue reading 1-Minute Phoenix Metro Office Market Update: Q2 2019

Categories Narrative, Office Market

1-Minute Phoenix Metro Office Market Update: Q1 2019

  The Metro Phoenix Office market continued its trend of positive net absorption this quarter in a BIG way.   Fresh off a year of posting 2.8 million SF of net absorption (job growth) in all of 2018, Metro Phoenix hit 1.1 million SF in just the first quarter 2019, sending vacancy down to 16.9% from … Continue reading 1-Minute Phoenix Metro Office Market Update: Q1 2019

Categories Narrative, Office Market

Affordability

  One of the most daunting tasks our national clients face is to quantify the key metrics for making decisions for their office locations.  I review no less than 30 different reports a year on this topic and the items people track are, well…daunting. Demographics, traffic patterns, access to amenities, cost of labor, office space costs, … Continue reading Affordability

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